Today we’d like to introduce you to Heather McBroom.
Heather, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
I started my first company 11 years ago. I was working as a paralegal and was having a hard time finding a good process server. In an unregulated industry, it was hard to find ethical people and serving documents is an important part of the litigation process. So, I opened my first company and struggled first to find a good bookkeeper, one who would explain things to me and not make me feel like I was not worth ten minutes of their time. I then attempted to find insurance for my company and had several agents send me quotes for part of what I needed, but it was evident that these agents were not really knowledgeable about what was needed to cover my risks. I also looked for someone to help me figure out the best way to structure my business, but was not getting any return phone calls. It was frustrating. A year later, I opened up a construction company for my son’s dad and had more engagement from some professionals, but got conflicting information and struggled with having to meet with each professional individually and having to piece everything together myself. Having had my insurance license for 20 plus years, bookkeeping experience (self-taught as I could not find a good fit for my business), experience running small businesses (four by this time), I decided I was going to create the solution to my own problem. I was going to open a one-stop-shop for all the services needed by small businesses and run it with them in mind. My goal was to make every small business feel like they mattered, spend time explaining things to them, helping understand their risks and how to manage them, and give them a team of professionals that would work together to keep their businesses on target.
I started a Commercial Insurance Agency where our focus is an increased level of training and education to understand the complexity of commercial insurance and the ability to effectively communicate to our clients their insurance coverages and their risks. Then, I started a bookkeeping/payroll division that is designed to be a partnership with the customer, educating them on knowledge needed to successfully run their business, teaching them to use and understand their bookkeeping system and reports, and providing business solutions to help them increase profits. I then incorporated the legal division that provides low-cost access to an attorney to help people register their businesses correctly the first time, ask legal questions, have contracts reviewed, and get assistance in collecting past due accounts. This service is a low-cost monthly membership through LegalShield until we grow to have in house counsel. We have recently included Virtual Assistant services which include mail service, phone service, and other tailored administrative services to meet our customer’s needs. We provide office space and conference room space that they can utilize as well. In 2021, we will be incorporating Marketing services as well geared towards relationship building, storytelling, and branding.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
As with any business owner, the first couple of years are typically filled with a lot of ups and downs. My family had to learn to adapt to a much lower income level for the first two years and the fact that my work schedule would become unpredictable and I would work much longer hours to get my business going. I began as the only employee, the manager, the wearer of many hats. I had to market my business, get out in the community and network, volunteer with multiple organizations and take many classes.
The amount of work one normally has when starting a business, I was doing times three. I wanted processes to be perfected and I wanted a good foundation for what I was building so that I could help as many small businesses as possible be able to make it past that point where most businesses could not. I wanted to contribute to building a community of entrepreneurial strength and be known as someone that you could trust for accurate information, connections to local resources, and services that were far superior to others in the industry. Now that I have built a good foundation, we are ready to grow and that brings its own struggles. Finding talented individuals who share my passion, align with our vision, are dedicated and that I can pay an attractive enough wage in comparison to larger insurance agencies in my area has proven to be difficult.
Alright – so let’s talk business. Tell us about Precision Services – what should we know?
Precision Services is a very unique company. Our goal is to deliver a collaborative effort from our professionals to keep small businesses running smoothly, efficiently, and make them more profitable. Our staff is committed to providing excellent customer service, accurate and useful information, and connections to local resources.
We have built an amazing reputation in our community, a name that people trust. We help our clients with anything they are struggling within their business. This can include understanding how their business is an extension of their personal lives, how to make a profit, what their target market is, how to have work/life balance, how to plan for growth, and how to set themselves apart from others in their industry. We work with them through all of their challenges and provide solutions and services that work for them. We empower them to run successful companies and obtain their goals.
Is there a characteristic or quality that you feel is essential to success?
I don’t know that I can pick one characteristic in particular, as I think several of are equal importance. I would start with integrity because in order to make this company work, we have to be one that others can trust to be a partner in running their businesses. I think passion is another characteristic that is important. Both myself and my staff must be passionate about helping others and building up the small business community in our regions. I also think dedication is important; dedication to ourselves and our goals, dedication to helping others, and dedication to being the best in our industry and providing the best service possible to the clients.
Commercial Insurance varies by line of business and risk exposure
- Bookkeeping – Starting at $225/mo
- VA Services – Starting at $250/mo
- Legal Protection – Starting at $34.95/mo
- Address: 1304 N. Academy Blvd. #202, Colorado Springs, CO 80909
- Website: www.psicolorado.com
- Phone: 719-210-0121
- Email: firstname.lastname@example.org
- Facebook: https://www.facebook.com/PrecisionServicesColorado/